FLORIDA CERTIFIED ASSET MANAGEMENT (FL-CAM) – PRACTICE TEST WITH
QUESTIONS AND CORRECT ANSWERS, GRADED A+
What should happen in the event of a vacancy among officers in an association?
The successor may be appointed at the next board meeting.
Official records of an association include
insurance polices
If a quorum requirement is not stated in a condominium association's governing document,
during an annual meeting what will constitute a quorum of the total voting interests?
a majority
What is the possible action the Department of Business and Professional Regulations could take
if a board director knowingly violated the Condominium or Cooperative Acts? The director
may be fined and charged criminally.
Which word best defines the relationship between the homeowners' association and the Board
of Directors?
fiduciary
The terms of all condominium board members expire ____________ if there is no other
specification in the bylaws.
at the next annual meeting
As per the Florida condominium law, how many days after a meeting is adjourned to a later date
will the proxies still be valid?
90
An uncontested recall of directors in a condominium or cooperative is effective within
5 business days
A committee CANNOT be appointed by the board of directors of a homeowners' association for
which intent?
adopting an amendment to the bylaws
When does an amendment to the condominium bylaws become effective?
after it is recorded in the public records of the county in which the condominium is located
, When is a condominium formally created?
when the Declaration of Condominium is recorded with the county where it is to be built
What Florida Statute chapter governs timesharing or interval ownership associations?
721
What is the mandatory minimum number of directors in a 75-unit condominium if nothing is
provided in the bylaws?
5
If the declaration of condominium does not state a procedure for authorizing material alteration
to common elements, the construction of new tennis courts would need to be approved by
3/4 of the total voting interests in the association.
The formal components of cooperative documents do NOT include
the Florida Statutes.
Which document in an association takes precedence in the case of conflict between document
provisions?
the declaration of covenants
Unless specifically provided in the _________________ , timeshare estates are NOT permitted
in a condominium association.
declaration of condominium
Joint ownership of common elements, exclusive ownership of a single unit and
________________, are parts of the condominium concept.
mandatory membership in the condominium association
The required period of time for posting and mailing notice of a cooperative association meeting
where the budget will be presented is
14 days
Where can the restrictions and covenants that establish the basic rights and responsibilities in a
condominium be found?
in the declaration
Where can the agenda and notice requirements for membership meetings of a homeowners'
association be found?
QUESTIONS AND CORRECT ANSWERS, GRADED A+
What should happen in the event of a vacancy among officers in an association?
The successor may be appointed at the next board meeting.
Official records of an association include
insurance polices
If a quorum requirement is not stated in a condominium association's governing document,
during an annual meeting what will constitute a quorum of the total voting interests?
a majority
What is the possible action the Department of Business and Professional Regulations could take
if a board director knowingly violated the Condominium or Cooperative Acts? The director
may be fined and charged criminally.
Which word best defines the relationship between the homeowners' association and the Board
of Directors?
fiduciary
The terms of all condominium board members expire ____________ if there is no other
specification in the bylaws.
at the next annual meeting
As per the Florida condominium law, how many days after a meeting is adjourned to a later date
will the proxies still be valid?
90
An uncontested recall of directors in a condominium or cooperative is effective within
5 business days
A committee CANNOT be appointed by the board of directors of a homeowners' association for
which intent?
adopting an amendment to the bylaws
When does an amendment to the condominium bylaws become effective?
after it is recorded in the public records of the county in which the condominium is located
, When is a condominium formally created?
when the Declaration of Condominium is recorded with the county where it is to be built
What Florida Statute chapter governs timesharing or interval ownership associations?
721
What is the mandatory minimum number of directors in a 75-unit condominium if nothing is
provided in the bylaws?
5
If the declaration of condominium does not state a procedure for authorizing material alteration
to common elements, the construction of new tennis courts would need to be approved by
3/4 of the total voting interests in the association.
The formal components of cooperative documents do NOT include
the Florida Statutes.
Which document in an association takes precedence in the case of conflict between document
provisions?
the declaration of covenants
Unless specifically provided in the _________________ , timeshare estates are NOT permitted
in a condominium association.
declaration of condominium
Joint ownership of common elements, exclusive ownership of a single unit and
________________, are parts of the condominium concept.
mandatory membership in the condominium association
The required period of time for posting and mailing notice of a cooperative association meeting
where the budget will be presented is
14 days
Where can the restrictions and covenants that establish the basic rights and responsibilities in a
condominium be found?
in the declaration
Where can the agenda and notice requirements for membership meetings of a homeowners'
association be found?
